New York Stock Exchange renounces delisting 3 Chinese companies
The New York Stock Exchange initially planned to delist three Chinese telecom firms on January 14, 2020. AP - Seth Wenig
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The New York Stock Exchange (NYSE) returned on Monday, January 4 on its decision to withdraw from the listing three Chinese companies in the telecoms sector, after "extensive consultations with the competent regulatory authorities", without giving more details on this. turnaround.
The initial decision followed an executive order from Donald Trump.
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The New York Stock Exchange announced Friday, January 1, the upcoming withdrawal of China Mobile Communications, China Telecommunications Corp and China Unicom (Hong Kong) Limited.
These three companies controlled by the Chinese government are also listed on the Hong Kong Stock Exchange.
The
NYSE's
initial decision
was taken in accordance with a US presidential decree of November 12, banning transactions in companies accused of being involved in the development of the Chinese military complex.
Sign of de-escalation?
The securities of the three groups are traded in the United States in the form of “ADR”, American Depositary Shares, securities allocated to foreign companies wishing to access Wall Street.
The administration of US President Donald Trump and Beijing have been engaged for several years in a merciless battle on the economic and technological front, with punitive customs taxes and blacklists that have affected the telecoms giant
Huawei
and the application in particular. ultra-popular
TikTok
.
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